Sysco Corporation (NYSE:SYY) Shares Sold by Breton Hill Capital Ltd.
Breton Hill Capital Ltd. cut its position in Sysco Corporation (NYSE:SYY) by 21.0% during the second quarter, Holdings Channel reports. The fund owned 19,726 shares of the company’s stock after selling 5,233 shares during the period. Breton Hill Capital Ltd.’s holdings in Sysco Corporation were worth $993,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. North Star Investment Management Corp. raised its stake in shares of Sysco Corporation by 81.2% in the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock worth $101,000 after buying an additional 871 shares during the last quarter. TrimTabs Asset Management LLC raised its stake in shares of Sysco Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock worth $112,000 after buying an additional 1,016 shares during the last quarter. Howe & Rusling Inc. raised its stake in shares of Sysco Corporation by 81.1% in the first quarter. Howe & Rusling Inc. now owns 2,595 shares of the company’s stock worth $135,000 after buying an additional 1,162 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in shares of Sysco Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock worth $151,000 after buying an additional 13 shares during the last quarter. Finally, Blue Chip Partners Inc. raised its stake in shares of Sysco Corporation by 0.6% in the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock worth $153,000 after buying an additional 19 shares during the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.
Sysco Corporation (SYY) traded up 1.677% during trading on Friday, hitting $51.723. The stock had a trading volume of 1,808,272 shares. Sysco Corporation has a 12-month low of $47.15 and a 12-month high of $57.07. The company has a market cap of $27.68 billion, a P/E ratio of 27.266 and a beta of 0.52. The company has a 50 day moving average of $50.96 and a 200-day moving average of $52.62.
Sysco Corporation (NYSE:SYY) last released its quarterly earnings results on Monday, May 8th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.14 billion. Sysco Corporation had a return on equity of 47.28% and a net margin of 1.93%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 EPS. On average, equities analysts predict that Sysco Corporation will post $2.47 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.59%. Sysco Corporation’s dividend payout ratio (DPR) is presently 69.47%.
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A number of analysts have issued reports on the company. Royal Bank Of Canada set a $50.00 price target on Sysco Corporation and gave the stock a “hold” rating in a research note on Friday. BMO Capital Markets set a $60.00 price target on Sysco Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Jefferies Group LLC reissued a “hold” rating and issued a $51.00 price target on shares of Sysco Corporation in a research note on Friday, August 4th. Barclays PLC reissued an “equal weight” rating and issued a $57.00 price target (up from $53.00) on shares of Sysco Corporation in a research note on Tuesday, May 9th. Finally, Loop Capital assumed coverage on Sysco Corporation in a research note on Monday, May 15th. They issued a “buy” rating and a $61.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $56.02.
In related news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $54.22, for a total transaction of $1,626,600.00. Following the completion of the sale, the chief executive officer now owns 406,725 shares in the company, valued at approximately $22,052,629.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Wayne Shurts sold 15,600 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $55.32, for a total value of $862,992.00. Following the sale, the insider now owns 58,776 shares of the company’s stock, valued at approximately $3,251,488.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 152,400 shares of company stock valued at $8,121,300. 8.81% of the stock is currently owned by corporate insiders.
About Sysco Corporation
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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